Boeing has increased its offer significantly to the International Association of Machinists union in a bid to end the strike by 33,000 members that has entered its 11th day.

The new offer is for a 30% (was 25%) raise over the four-year contract, plus an immediate 12% raise, a $6000 ratification bonus (was $3000) and restoration of the annual bonus plus increase to the company contribution to the 401 (k) pension plan.

“We heard your feedback,” said a statement to union members on its website. See details here.

“We’ve made significant improvements to provide more money in key areas.”

Over 95% of union members voted against the previous labour agreement and Boeing said that the new offer is contingent on a contract being ratified by September 27.

The union said Monday that it is reviewing the new offer.

“This news validates every step that hardworking Boeing employees have taken on the picket line thus far,” said Brian Bryant, IAM’s international president. “Employees knew Boeing executives could do better, and this shows the workers were right all along. The proposal will be analysed to see if it’s up to the task of helping workers gain adequate ground on prior sacrifices.”